Automated financial data processing with Power Query
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Power Query is probably the best data transformation and manipulation tool available in all versions of Microsoft Excel. If you are looking to shorten your data processing time by up to 80%, the solution is right here on any computer, and you can start using it today.
What is Power Query?
An Excel user who mainly creates simple reports and inputs data and a VBA1 programmer both have the main task of processing structured and unstructured data. Their data processing routines tend to repeat each month, and they perform the same steps using the same updated sources of information. To help customers solve this problem and let professionals do what they do best instead of bothering with repetitive and boring tasks, Microsoft has added Power Query in their products since 2013.
Power Query is a part of Microsoft’s rapidly evolving Power BI2 suite, which includes Power Pivot, Power Query, Power View, Power Map, Power BI Desktop, and Power BI. Many parts of these tools are included in Excel and can be linked with Power BI.
Power Query allows you to automate your data extraction, transformation and loading tasks so you can process data gathered not only from other .xlsx files or spreadsheets but also from a variety of data sources, including the Internet and databases.
Studies show that mastering Power Query with a relatively small investment of time makes data transformation easier and faster than trying to do the same in Vlookup, Index, Match Offset, Indirect, or other Excel functions. When you process data with Power Query, you can often develop solutions and get results more quickly compared to VBA. In fact, when building solutions with Power Query, you write rules telling your computer how to process data in the future, and so the solution you have created once can be used repeatedly. Since data processing principles with Power Query can be mastered in a relatively short period, you can soon start shortening the time it takes to produce standardised reports.
To quickly master the automation of creating reports in Power Query and to implement it successfully, we have attended training courses at the Stockholm School of Economics in Riga:
Data processing automation and effective report creation principles;
Efficient work with MS Excel and basics of data analytics;
Other training courses that can help improve your day-to-day work
If your company is facing this issue and would like to share insights, please contact firstname.lastname@example.org
1 Visual Basic for Applications
2 Business Intelligence